From 2013 to 2023, the value per capita of the golf balls market in the Dominican Republic increased from $0.12 to $0.18. In 2023, it remained constant from the previous year. The market demonstrated stability from 2016 to 2019 with a slight dip in 2020, likely due to the COVID-19 pandemic. Over the last two years, the market saw a 5.88% growth from 2021 to 2022, maintaining its value into 2023. The compound annual growth rate (CAGR) over the last five years was approximately 1.58%.
Future trends to watch include:
- Potential increases in disposable income fueling demand.
- Growth in golf tourism due to developing resorts and courses.
- Environmental concerns influencing material innovations.
